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Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
 BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for the maritime industry. The revisions reflect significant changes in the regulatory landscape since the contract was last updated.
In response to changes within the areas of regulation and safety, BIMCO has updated GENCON 1994 to reflect the commercial and legal requirements in today’s shipping practices. The voyage charter party, used in dry bulk trade, was last updated in 1994 and the new version addresses all terms and conditions that the commercial parties need to incorporate by means of rider clauses. This will help companies that may not have an internal legal department to turn to for assistance.
The drafting group engaged in the development of GENCON 2022 consisted of representatives from both the chartering and shipowning sector to assure the new version strikes the right balance with regards to the rights and obligations of both parties.
“When we sit down and start the process of drafting standard contracts and clauses for the maritime industry, our focus is on striking the right balance between the parties involved. This is regardless of which contract or clause is on the drawing table. The drafting of GENCON 2022 reflects this,” says Søren Larsen, BIMCO Deputy Secretary General.
Focus has also been on the importance of producing a clearly worded contract that leaves little room for disputes on matters of interpretation.
“I have been active in dry bulk shipping all my working life and have seen how important it can be to get the wording just right,” says John Weale, Chairman of the drafting sub-committee. “There is no perfect charter party, but I do believe that GENCON 2022 will go a long way towards meeting the needs of today’s industry and avoiding disputes.”
The 2022 update will mark 100 years since GENCON was first launched by BIMCO, as the first edition was published in 1922.
Source: BIMCO
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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Deloitte Consulting - India
- PTC India Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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